Cycles

Private

Toronto-based privacy-preserving multilateral clearing protocol from Cosmos co-founder Ethan Buchman's Informal Systems. Uses ZK proofs, TEEs, and graph algorithms to net obligations across crypto trading and stablecoin payment flows. Launching Cycles Pay stablecoin.

Founders Ethan Buchman

CEO Ethan Buchman

Company

Founded

2024

Headquarters

Toronto, Canada

Financials

Total Funding

$9M

Sectors

Fintech Payments Blockchain & Crypto

cycles.money

Funding History

2 rounds

Seed May 21, 2026

$6M

Blockchange Ventures (Lead) Coinbase Ventures Compound Primitive Ventures

Pre Seed May 15, 2025

$2M

CMCC Global (Lead) Maven 11

Funding data is compiled from multiple independent sources including company announcements, press coverage, and regulatory filings. While we strive for accuracy, amounts and dates may reflect reported figures at time of announcement.